Ecoceres is a derivative product of Towngas, the gas supplier of Hong Kong billionaire Lee Shau Kee, which makes environmentally friendly jet fuel away from animal fat and second -hand edible oil. Before the end of this year, it turned its attention to the leading manufacturer of this fuel.
Be Airlines around the world aim to reduce their climate impact, and some people promise to increase the use of sustainable aviation fuel (SAF). The need to meet the green jet fuel is Ecoceres. This is a unicorn starting enterprise in Hong Kong. It stands out from Hong Kong and Chinese natural gas from the billionaire Lee Shau Kee, and has received support from the US private equity company Bain Capital. Essence
ECOCORES turns animal fat into renewable fuel. For example, compared with traditional kerosene -based fuel, its SAF can reduce the amount of greenhouse gas for air travel up to 90 %. The company is still trying to convert other raw materials into SAF to meet the growing demand of the aviation industry. The industry has set the goal of zero carbon emissions.
Matti Lievonen, CEO of the startup company, said in a video interview that although ECOCERES is relatively small compared to industry giants such as Finland, although it is in Finland in Finland, it The purpose is to distinguish yourself by having the highest income in this field. Lievonen used to be the president and chief executive officer of Neste, claiming that Ecoceres is expected to have the highest yield in the industry by the end of this year. At that time, its new factories in Malaysia were equipped with more advanced technology. Malaysia is the second largest producer in the world after Indonesia. Palm oil garbage is used to make SAF.
Lievonen said that by the end of 2025, ECOCERES will be able to get 85 % return after completing the factory in Johor, Malaysia, which has increased its existing Jiangsu Province. He added that the industry's average yield was from 40 % to 55 %. With the help of the second factory, the company's project will be able to increase its annual SAF production from 100,000 tons in 2023 to about 700,000 tons. This will increase the global market share of ECOCORERES to more than 30 %. From 20 % in 2024, the AS International Aviation Transport Association predicts that the output of clean fuel will reach 2.1 million tons in 2025.
Ecoceres CEO Matti Lievonen.
ecoceres
Lievonen said: “We do provide the possibility of providing the possibility of reducing greenhouse gas emissions in the aviation industry and providing people with good intentions to fly.”
ECOCORES was established in 2008 in 2008. It is a biological exquisite R & D project in Hong Kong and China. The only natural gas supplier in Hong Kong is called Towngas locally. ECOCERES was developed from Towngas in 2021 and raised $ 108 million from Cherogen Capital. This was a private equity company, which was co -founded by a member of Morgan Chase Asia Energy and Natural Resources Group. In 2023, Towngas sold 21 % of Bain Capital's shares with a transaction worth nearly 1.5 billion US dollars. As of June 2024, Towngas has retained 44 % of Ecoceres shares.
According to a report in Bloomberg in January, it is said that Ecoceres in Europe will hold the first public offering in Europe that year in Europe, which may attach importance to about $ 5 billion. The report added that the company could raise 500 million to $ 1 billion. Ecoceres refused to comment.
Ecoceres is one of the more and more companies that manufacture SAFs. The US Department of Energy said that so far, this is the only feasible solution for the “meaningful decarbon” aviation industry. According to data from international energy agencies, aviation accounts for about 2.5 % of global carbon dioxide emissions. As aviation travel continues to increase, the number is expected to rise. It is one of the most challenging industries for decarburization, because energy dense fuel is required to provide motivation for long -distance flights.
The improvement of ECOCOCERES's production capacity is good for the EU. The European Union requires at least 2 % of the Jet Fuel supply from this year, and at least 70 % by 2050. Lievonen said it exports European customers.
This will also help meet the growing needs of the United States and Asia, which are the second and third largest sales contributors of ECOCERES. The United States has no SAF mission, but provides incentive measures for green jet fuel. At the same time, Singapore plans to require all departure flights to increase the utilization rate of its SAF from 2026 to 1 % in 2030 to up to 5 %. Hong Kong also said that this will set Ecoceres that sets the target Cathy Pacific flight from the city.
Ecoceres in Jiangsu Province, China.
ecoceres
According to international energy agencies, SAF currently only accounts for 0.1 % of all jet fuel consumption. The U.S. Department of Energy found that the challenge it used to use was that its cost was twenty to ten times that of traditional aviation fuel, specifically depending on the raw materials and technologies used. At the same time, it is relatively limited to supply waste oil and animal fat in SAF.
To overcome obstacles, Ecoceres is now trying to convert other raw materials into SAF. Hope alternative is Carinata, a green leaf plant with bright yellow flowers that can grow in less fertile land and use it to protect soils instead of harvesting food. Lievonen said that Ecoceres is studying the technology to produce SAF from oil extracted from Carinata.
The company is also studying a technology called alcohol to fireproofer. This technology uses chemical reactions to upgrade ethanol to fuel that is sufficient to drive flight. ECOCORES has been able to transform agricultural waste into ethanol. Ethanol is a gasoline mixture that can reduce greenhouse gas emissions by 80 %.
Lievonen said: “There are more than 100 people in our R & D team, focusing on alcohol to jet technology, novel raw materials and other things.” “If you only do one thing and think that it can save you, then you will not be able to succeed. We want to maintain a leading position. “
